Bitcoin MYK - Arbitrage Situation - Top 10 Coin Potential

Hey you, welcome back to the channel. And today we want to talk Bitcoin MYK and possibilities that exist in an arbitrage situation. So we have been noticing that, uh, since we've started trading on the exchanges at Steam Engine and the Waves exchange, that there would be, uh, these variations in the price, uh, of the cryptocurrency. And some of you more seasoned traders probably already know about how arbitrage works when you can go on one market, you know, buy it cheaper, or some of us probably just do it on default, do it by default anyway, and, uh, take it on another exchange. You can sell it higher, and between that profit margin is a— between the spread is a profit margin. Um, and so we kind of know this going on here with, uh, Bitcoin MYK. Uh, yesterday it was, um, it was, uh, quite a bit of opportunity with that, but we noticed that as we start to get more buyers in, as we're starting to— people are starting to find out about us and more orders are starting to come in, we figured out that basically it started to narrow down. So now it's about an eighth of a cent, between an eighth of a cent and a ninth of a cent. It was dramatically larger than that before then. And now I think over on Waves Exchange, it's about 1 cent or something like that. So that's kind of interesting. Just want to let you all know about that, that there you can basically do this between exchanges and the value of the BitcoinMYK token on our network is the same. So if you're still kind of in the dark a little bit about BitcoinMYK, probably like, what is this? I kind of hear about it. I didn't check it out. I don't know what it's about. You hear the Bitcoin in the name. Does it have anything to do with Bitcoin? Yes, it has a great deal to do with Bitcoin. Now it is not Bitcoin. It is not a fork of Bitcoin. It is more or less a, some people refer to it as a fork. Some people look at it more as a type of hybrid. There are many definitions of forks. You have soft forks, hard forks. And so with us, it's more about branding and the movement of Bitcoin, similar to what you get with the Bitcoin Lightning Network. So we kind of leave it up to the community now to make that determination how they want to look at this. But the reality is with Bitcoin MYK, if you hold Bitcoin, you don't have to purchase it. You get it automatically if you hold Bitcoin. If you mine Bitcoin, you get it automatically in relational value to how much Bitcoin you hold in Bitcoin MYK. Uh, and the reason for that is Bitcoin MYK, uh, the goal of it is to be on several blockchains. And that way, if you want to move Bitcoin, instead of having to try to sell it for another cryptocurrency and move it over here, you will automatically basically just have this representative value of Bitcoin on several blockchains. And that of course makes it efficient and faster and easier to move it without those situations, right? Without those problems. So that's a good feature of what BitcoinNYK does. And that's why you have the Bitcoin name in it. Now, what happens with BitcoinNYK is that in most forks, airdrops, whatever you wanna call it, there are Bitcoin holders who don't claim for a variety of reasons. It could possibly be that they lost their passwords or, you know, unfortunately maybe some are deceased. Whatever the case may be, they didn't claim the tokens. What happens with our tokens? They go back into circulation. What do they do? They go into a model we call the proof of participation model, where you can do things, you can earn these tokens and trade them on the market. We don't sell the tokens. We've done no ICOs or anything like that. You get them by participation and they go to the third-party exchanges and they are sold on those third-party exchanges, right? Of course, the founders' wallets, we have videos out about exactly how they're distributed, how much of the tokens that are available to them. And so it's a definitely, we believe one of the best or the most decentralized cryptocurrencies, as well as one of the, uh, most well-distributed, uh, cryptocurrencies. Um, now some people probably heard of Steem and are saying, well, okay, Steem, is that related to Steam the social network, Steem the blockchain? Yes, it is. They have now their own, uh, exchange, uh, and, and a token creation system, similar to what you get with Ethereum and Tron now. So we have that on Steam and our token exists here on the Steam network as well. Now, this is what makes BitcoinNYK so versatile and so much of what I might refer to as a triple threat. So generally what happens in a trading market is people come in, they buy your cryptocurrencies, they buy or sell them, and that's pretty much all they can do with them. You can do a great deal more with BitcoinMYK token. So let me explain that real quick. If you understand anything about Steemit, the Steemit community has figured out a way to monetize content. It could be blogs, it could be photographs, articles, and this value is transferred throughout their network in the form of a cryptocurrency. Now the money, this is where it gets a little bit tricky, and if you don't quite understand all this, It doesn't really matter. Just try to get the gist of it, or just try to give you the gist of it. Now they have a, uh, a rewards pool where they can upvote this content. They can vote on it, say I like it, I don't like it, or whatever, and that money gets transferred over that system. Now what happens is when you're a part of their communities, the value of, or the influence over the network you have to move the money out of this rewards pool changes. Now with BitcoinMYK, as we're part of that community as well, we're able to control some of that some of that STEEM dollars, right, through these votes. These votes are also redeemable for BitcoinNYK tokens, and there's so much— like, votes can range. It all depends on your stake and influence. Ours ranges from about around 5 to 10 cents or something like that with the stake we control and at least STEEM we control generally. So that basically means that their community can, would be able to redeem one of our tokens for like up to 5 to 10 cents, uh, even if it's not traded on the exchanges or markets. And within their economies and ecosystem, they're getting value that way. Now what that does is that creates a floor value of the BitcoinMYK token, and it also gives it almost a value onto itself, right? Because now you have a demand where people can use this cryptocurrency, uh, and, uh, we call them, we call them We refer to them in these communities as upvote tokens. And it's not just Steemit, it's also, uh, several other sites like them, like WhaleShares, BearShares, that have similar, uh, features that we're involved in. And we can do the same thing over there. Kind of creates its own market unto itself, its own value unto itself. They can move that value in and out of the token. It makes it a high-demand token. And for some people who've been trying to figure out exactly what BitcoinMYK is, what we're doing over here, now you're kind of getting a more fuller picture of how the token has value, how we move it, the relation to Bitcoin. And now one of our last interesting features is smartphone mobile mining. Basically means you can take your smart device, you can not really mine, it's simulated mining. It doesn't use any of your actual resources or phones, but you earn real BitcoinNYK tokens running these devices. So it simulates mining, gets people used to the concept of mining, moving value throughout cryptocurrency. Currency, at the same time having a demand, uh, in which, uh, they're able to, uh, benefit from the use of this cryptocurrency. In addition to that, as we're forming and growing our network using the Bitcoin holders from the Bitcoin fork or airdrop or network, uh, bringing them in, uh, as well as the social media communities like we mentioned, Steemit, uh, WhaleShares and the others, uh, bringing all these people in The cryptocurrency BitcoinNYK also has a value onto itself over this network, meaning you can purchase items, you can purchase advertising slots, you can do a variety, you can tip people with them on the site, you can do a variety of things. We also have an internal social network where you can post, you can upload pictures, you can link to other sites, your favorite topics, and you receive cryptocurrency for that, as well as we have the ability to stake our cryptocurrency and you can earn more. So we have staking as well. So this is a very versatile token. It's a very exciting token and people are now getting excited about it and they're jumping in. They're starting to purchase these cryptocurrencies. It's something we started not long ago. We weren't 100% sure, uh, how we were going to do with it, but we thought that the market needed, uh, something like this. And, uh, that's basically, uh, what we got with it. And now we're starting to get buyers in. We're starting to get people buying and selling. Been doing pretty well on the Steam Engine Marketplace. We've been staying around the top 10 spots since we got on there. But anyway, let's get over to Waves and we'll talk a little bit more about the situation with BitcoinNYK, the arbitrage situation, and possibly why you need to pay attention to this cryptocurrency. Okay, so now we're over on the Waves exchange. That's the, the other exchange we're trading on, and we, we do plan to list on 2 additional exchanges over the next few months, uh, we're gonna probably end up over on BitShares, and we're probably gonna end up on, uh, uh, Tron, uh, create a, uh, have a, uh, uh, token over on Tron, and as well Ethereum. Uh, so over the next few months, you're gonna see this cryptocurrency over there as well. Now here's the interesting thing about BitcoinNYK, about it being this universal cryptocurrency. Uh, when you have one-on-one network, you have them on all of them, right? So you're gonna have them over all these blockchains, and that's, That gives us the ability to be able to move this cryptocurrency at high speeds without the inconvenience of having to try to trade out a cryptocurrency for another cryptocurrency whilst losing value. You don't lose value in this cryptocurrency. If you have Bitcoin, you don't even have to purchase it, right? You can go on the site, you can earn it for free. You can do the smartphone mining and a variety of things. So it's many ways that this network gains value and how you can participate in that value, get that value, and move that value across the network. Um, and, uh, we think there's going to be a very great opportunity, uh, in many, many ways for many of you to get involved. But if you're looking right here now, over on Waves, we're at about 1 cent, right? So that's a— that's still, uh, higher than what we're getting over at, um, on Steam Engine. So basically what that means is you got about— looks like about a 20% difference. That's— that makes for a great arbitrage situation if you pick up your cryptocurrency over on Steam Engine at around an eighth of a cent, and if you're able to sell it on the Waves exchange for around a penny, then that's a win-win situation for you. So that's what arbitrage does. Now, the issue with— as more buyers come in and these opportunities exist like this, what generally starts to happen is that spread starts to close down, right? And that's what's starting to happen over on Steam Engine. And we suspect that this will begin to happen on the Waves Exchange when people realize that they can do this, that this cryptocurrency is the same over our network and they can profit on one and on the other. So, uh, that— this is kind of a quick rundown of what BitcoinNYK is, but we have a white paper. We'll leave a link in the description. It goes into great intricate details about exactly how amazing this token is going to be. Uh, you know, we thought about and, uh, a method we— what we tried to do was address all the demands that exist in cryptocurrency, right? We tried to deal with demand, the movement of Bitcoin, being part of the biggest network, mass adoption. Um, one thing I left out as well when I was talking about, uh, Bitcoin MYK and speaking about, uh, how Bitcoin holders get it free. Uh, so that's another way to buy it too. As a matter of fact, if you're one of those people who go, well, you know what, uh, I'm not going to take any money out and risk it and put in a cryptocurrency that doesn't work or something like that. If you hold Bitcoin, you just sign a wallet with us. In order to use our— move our cryptocurrency across the networks to avoid double spend, we use something called social media verification key. But if you sign your wallet, we're able to know you're a unique holder of that wallet, and you can move that same value through BitcoinNYK without purchasing it. Now, this is all very important because when Bitcoin holders don't claim their cryptocurrency, when they don't claim their Bitcoin MYK, what happens is that money goes back into circulation. And as I explained earlier, some of it goes to the proof of participation where they could do things on the site, fun things like games, chat, a variety of things, and earn cryptocurrency smartphone mining. But in addition to that, uh, we have a universal basic income program where those tokens give out tokens to everybody each month who claims their universal basic income tokens. Now, a lot of people don't understand the full gravity and weight of what universal basic income means. We're able to be sustainable with our program because again, this is coming from the unclaimed tokens of Bitcoin, so that value is still in the network. Now it's going out to pay for universal basic income. But this is so very important because this is something that EOS has, has went after or about to go after, or having used their inflation to fund universal basic income. I believe they're gonna be calling it the universal Resource Inheritance Program. Uh, Telos, a fork of EOS, they already have one out, uh, using something called Acorns. Uh, unfortunately it doesn't have any value, it doesn't trade on exchange yet, but they're giving them out and I would imagine at some point it will be on exchange. Ours is on exchange now, uh, and you can claim them every month. You get them the last day of the month, uh, so everybody can come in, get them some free cryptocurrency build a network with us and gain some value. As you can see, there are people who see the value of BitcoinMYK and they like the low prices and they like the fact they can use them for these upvotes and a variety of things across our network that gives it value. And because of that, they're coming in, they're buying cryptocurrencies, and, uh, what that's doing is giving it value, it's giving the network value. But it's so much to talk about with BitcoinMYK, we can't do it in one video. You have to to tune in to the channel, subscribe to the channel, and watch all this great content. We will leave a, uh, a link to our white paper in the comments section. You can check it out, you can read it. You do not want to miss this, guys. Uh, I'm not just saying this, I really believe the research I've done and how this project has looked at the cryptocurrency space and went specifically to address the concerns of the cryptocurrency space We really firmly believe that this could be a top 10 cryptocurrency easily, uh, and, uh, we're sticking by that. And I think over the next several months, I think we're gonna possibly be able to prove that to you all. Now, I want to be clear on this. You can get involved with BitcoinNYK without purchasing this token. We created a model called the Proof of Participation model where you can do things on our website that don't cost you any money, and you can earn— excuse me, you can earn our cryptocurrency. Uh, you could— if you're a Bitcoin holder, you do not have to buy this cryptocurrency. Uh, and so there are so many ways to get this. So, uh, we're not about FOMOing in. We know we got a good project. We know we got a good product, a sustainable product. People are interested in buying. They're buying, and they're buying it every day. They like the prices. And there are some people sleeping on this project, but that's it always is in cryptocurrency. You always sleep on the good ones, right? So we aren't interested in people FOMOing in. We want you— we want informed investors. We want intelligent investors. We want people who ask questions about the project before they buy and to get involved and informed about it before they make a purchase. And that way they're more comfortable with us. We're more comfortable with the process of what's happening. But again, we do not— you cannot buy this token directly from us. You come on the website, you cannot purchase our token. You can earn the token. You have to go out to the third party and buy from one of the community members or something like that. So that's all very, very interesting stuff we want you to pay attention to and look into. But I think that's all we're going to say in this video, guys. Guys, if you like content like this, Don't forget to like, subscribe, and until next time, take care.